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Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
 * KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's state-run MMTC may re-issue a tender for 12.5 million tonnes of thermal coal after a complaint from a trader, MMTC Chairman Sanjiv Bhatra said on Tuesday.
"We are waiting for a response from the Commerce Ministry before we decide what to do. It's following complaints by a trader who made an offer into the tender but was disqualified," Bhatra told Reuters.
Indian trading company Knowledge Infrastructure Systems (KIS) has demanded an investigation into MMTC's coal procurement processes by India's Central Bureau of Investigation (CBI), KIS Chairman Rahul Bhandare said.
KIS has written to the CBI, to the Commerce Ministry and to the Prime Minister's office, he said.
In common with other traders, KIS argues that current terms for tenders by MMTC are restrictive and disadvantage smaller companies or those that do not have foreign partners. "I wrote to the prime minister and others. There was no level playing field and they had to take cognisance of it. We decided to take a moral stand on this issue," he said.
"They (MMTC) will have to do the tender again with more transparency and fairness," he added.
MMTC is India's state-run trading house responsible for buying commodities on behalf of other state entities. MMTC's Bhatra said the company simply imposed the rules of the buyers that it represents.
MMTC buys coal on behalf of state utilities including the largest, state-run National Thermal Power Corp. The tender, which closed on June 4, was issued on behalf of NTPC.
Any delays to coal procurement will exacerbate India's shortage of fuel for power generation, Bhatra said. "Stocks at the power plants are critically low. Coal is needed urgently." During the past four years almost all of MMTC's coal tenders have been awarded to traders Adani, a subsidiary of the Adani Group, rival Indian trading companies said.
Four trading companies offered into the disputed tender and three met the terms, including Adani, Bhatra said. KIS did not qualify, he said.
Bhandare denied KIS had been disqualified.
Adani was not immediately available for comment.
MORE NEEDED, TRADERS SAY
Some of MMTC's rules have been relaxed to encourage broader participation but more needs to be done, Indian traders said.
"When they re-tender with the new rules which are expected, this will open the doors," said one Indian trader who declined to be identified.
Saurabh Kirpal, a barrister representing KIS, said some clauses are particularly restrictive. "Given the nature and structure of the coal supply business in India, these clauses restrict competition only to Adani," he said.
For example, bidders must pay an Earnest Money Deposit of 2 percent of contract value if they have supplied over 10 million tonnes of coal in a year and 8 percent of value if they have supplied over 2 million tonnes.
"This makes bidding non-viable for smaller bidders. There is no discernible rationale for such a clause," Kirpal said.
Bidders must also have supplied over 2 million tonnes of coal to India.
Another clause of the tender states that MMTC will only pay a foreign principal for imported coal, requiring Indian bidders to have a joint venture in place.
Clarifications on these points were issued on May 30 just days ahead of the offer deadline of June 4, Kirpal said.
Other Indian traders who wanted to offer expressed frustration at the lack of time to make necessary arrangements for payment and what they saw as a sudden and unexpected change to the tender terms which prevented them from offering.
"These clauses were already in the terms of the tender. Nothing new was added, we merely issued clarification on request," MMTC's Bhatra said.
Source: Alibaba
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Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
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- Power Finance Corporation Ltd., India
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- Planning Commission, India
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- PTC India Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
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- ICICI Bank Limited - India
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- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
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- Carbofer General Trading SA - India
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- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
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- CIMB Investment Bank - Malaysia
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- Parliament of New Zealand
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- Posco Energy - South Korea
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- Commonwealth Bank - Australia
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- Ministry of Mines - Canada
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- Gujarat Electricity Regulatory Commission - India
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- Romanian Commodities Exchange
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- Samtan Co., Ltd - South Korea
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- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
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- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
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- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
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- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
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- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
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- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
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- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- London Commodity Brokers - England
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- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Siam City Cement - Thailand
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- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
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- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
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- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
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